Saving

Students will be able to

• Describe how saving and investing are different
• Understand fundamentals of saving such as reasons for saving, how much to save, and strategies to enable saving
• Explain why it is important to start investing for retirement when you are still young

Students will be able to

• Identify everyday obstacles Americans experience when trying to save money
• Recognize the impact of inflation on savings
• Experience simulated challenges of living paycheck to paycheck
• Understand why it is important to maintain an emergency fund

Students will be able to

• Identify various rules of thumb and strategies to save money
• Determine whether a direct deposit or manually saving is the better strategy for them
• Understand how compound interest works to increase savings.

Students will be able to

• Explain the difference between a checking and savings account
• Compare different savings vehicles such as a savings account, CD, and money market account
• Identify important criteria to consider when selecting a savings account.

Students will be able to

• Describe how saving and investing are different
• Understand fundamentals of saving such as reasons for saving, how much to save, and strategies to enable saving
• Explain why it is important to start investing for retirement when you are still young

Students will be able to

• Identify everyday obstacles Americans experience when trying to save money
• Recognize the impact of inflation on savings
• Experience simulated challenges of living paycheck to paycheck
• Understand why it is important to maintain an emergency fund

Students will be able to

• Identify various rules of thumb and strategies to save money
• Determine whether a direct deposit or manually saving is the better strategy for them
• Understand how compound interest works to increase savings.

Students will be able to

• Explain the difference between a checking and savings account
• Compare different savings vehicles such as a savings account, CD, and money market account
• Identify important criteria to consider when selecting a savings account.

Students will be able to:

• Explain how saving is linked to overall wealth
• Describe how saving and investing are different
• Understand fundamentals of saving such as reasons for saving, how much to save, and strategies to enable saving
• Acknowledge the role of delayed gratification in saving

Students will be able to

• Identify everyday obstacles Americans experience when trying to save money
• Understand why it is important to maintain an emergency fund
• Describe their own savings goals as well as big picture reasons to save, such as for college or retirement
• Estimate the cost of medium- and long-term goals and devise smaller, periodic savings goals to reach them

Students will be able to

• Identify various rules of thumb and strategies to save money
• Determine whether a direct deposit or manually saving is the best strategy for them
• Understand how compound interest works to increase savings
• Explain how to use the Rule of 72
• Recommend different mobile apps that can help them manage and increase their savings

Students will be able to

• Compare different savings vehicles such as a savings account, CD, and money market account
• Identify important criteria to consider when selecting a savings account
• Make a systematic and informed decision by gathering, evaluating, and comparing information

Students will be able to:

• Explain why saving is important
• Explain what it means to “pay yourself first” and why it’s beneficial
• Create a list of short, medium, and long-term savings goals

Students will be able to:

• Analyze the elements of a budget and how they affect different aspects of your personal and financial well-being
• Calculate how much they would have to save weekly, monthly, or annually to meet different savings goals
• Determine what spending habits they have that could change if necessary in order to meet savings goals

Students will be able to:

• Explain what is a savings account
• Compare the difference between savings and checking accounts
• Choose whether a savings or checking account is appropriate for different financial situations

Students will be able to:

• Develop a plan to talk to a parent or guardian about opening a savings account
• Prepare for opening a savings account by determining what features are most important, what items they already have, and what items they’ll need to apply
• Analyze a savings account statement

Students will be able to:

• Explain what is simple interest and compound interest
• Compare the difference in growth of an investment when using simple vs. compound interest
• Calculate simple interest and compound interest earnings year over year